Key Points
- Lightspeed Venture Partners Se, Navan’s major shareholder, sold 8,983 shares on July 8 at an average price of $25.36, totaling about $227,809. The filing follows a series of recent sales by the same shareholder over the prior month.
- Navan stock was trading up 0.4% and opened at $25.63, near its 52-week high of $28.22. The company has also been trending above both its 50-day and 200-day moving averages.
- In its latest quarterly report, Navan posted EPS of $0.08, beating expectations, while revenue rose 39.8% year over year to $220.23 million. Analysts remain generally bullish, with a consensus rating of Moderate Buy and an average price target of $28.64.
Navan, Inc. (NASDAQ:NAVN - Get Free Report) major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Lightspeed Venture Partners Se also recently made the following trade(s):
- On Wednesday, July 1st, Lightspeed Venture Partners Se sold 10,569 shares of Navan stock. The shares were sold at an average price of $24.65, for a total transaction of $260,525.85.
- On Wednesday, June 17th, Lightspeed Venture Partners Se sold 77,323 shares of Navan stock. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38.
- On Tuesday, June 16th, Lightspeed Venture Partners Se sold 398,546 shares of Navan stock. The shares were sold at an average price of $19.13, for a total value of $7,624,184.98.
- On Monday, June 15th, Lightspeed Venture Partners Se sold 1,004,231 shares of Navan stock. The shares were sold at an average price of $20.37, for a total value of $20,456,185.47.
- On Friday, June 12th, Lightspeed Venture Partners Se sold 1,019,900 shares of Navan stock. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00.
Navan Trading Up 0.4%
NASDAQ:NAVN opened at $25.63 on Friday. Navan, Inc. has a 12-month low of $8.10 and a 12-month high of $28.22. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock's 50 day simple moving average is $21.03 and its 200-day simple moving average is $15.70. The firm has a market cap of $6.52 billion and a P/E ratio of -11.92.
Navan (NASDAQ:NAVN - Get Free Report) last issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. Navan's quarterly revenue was up 39.8% compared to the same quarter last year. Equities analysts anticipate that Navan, Inc. will post -0.37 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Navan in the 4th quarter worth about $270,000. FNY Investment Advisers LLC purchased a new position in Navan during the 4th quarter valued at about $115,000. Lunate Capital Ltd acquired a new position in Navan during the fourth quarter worth about $3,416,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Navan during the fourth quarter worth about $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Navan in the fourth quarter valued at about $257,000.
Analyst Ratings Changes
NAVN has been the subject of a number of recent analyst reports. BTIG Research raised their price objective on shares of Navan from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Needham & Company LLC reissued a "buy" rating and set a $30.00 target price on shares of Navan in a research note on Monday, June 22nd. TD Cowen raised their price target on Navan from $28.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Citigroup reaffirmed an "outperform" rating on shares of Navan in a report on Thursday, June 11th. Finally, BMO Capital Markets raised their target price on Navan from $22.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.64.
Get Our Latest Stock Analysis on NAVN
Navan Company Profile
(
Get Free Report)
Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.
Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.
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